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INTERGOVERNMZNT~ AGREEM]ENT ESTABLISI-EING BOULDER COUNTY AS TI-liE SUCCESSOR ENTITY TO THE BOULDER COUN~TY RECYCLING AND COMiPOSTING AUTHORITY TIq2S AGREEMENT is made and entered into this 12.~'~ day of ~t.o,,'~ ~ ,2001, by and between the Board of Commissioners of BOULDER COUNTY, State of Colorado, a body corporate and politic, the CITIES OF BOULDER, BROOM:FIELD, El:LIE, LAFAYETTE, LONGMONT AND LOUISVIT J E, and the TOWNS OF LYONS, J'AM]ESTOWN, NEDERLAND and SUPERIOR, each a municipal corporation (the parties may be referred to hereinafter individually as "pm~:y" or jointly as "parties"), and each a member of the Boulder County Recycling and Composting Authority ("BCRCA'/), established by Intergovernmental Agreement dated April 20, 1995, pursuant to §29-1-203, C.R.S. WITNESSETH: WHEREAS, the parties are authorized to enter into this agreement pursuant to §29-1-201, et. seq., C.R.S.; and WHEREAS, BCRCA was established by Intergovernmental Agreement dated April 20, 1995 (hereafter "1995 Agreement"), for the purposes set forth in that Agreement, which purposes have been pursued diligently since that time; and WHEREAS, the 1995 Agreement provides at Section IV that it shall terminate automatically on December 31, 2001, or that it may be terrninated prior to then by agreement of the parties; that a successor public entity may carry on the activities of BCRCA and assume its obligations; and that in the event of a successor public entity, BCRCA assets and funds, including any interest earned on deposits, remaining upon termination of BCRCA and after payment of all obligations shall be transferred to the successor public entity; and WHEREAS, the parties are entering this Intergovernmental Agreement in order to formally terminate the 1995 Agreement and establish Boulder County as BCRCA'S successor public entity. NOW, THEREFORE, in Consideration of the mutual covenants and commitments made herein, the parties a~ee as follows: 1. BCRCA shall be terminated upon signature of all the parties hereto, and Boulder County shall become the successor public entity contemplated in Section IV of the i995 Agreement. 2. All the revenues generated by the Recycling Tax, and all assets purchased with revenues from the Recycling Tax, must be used for the purposes outlined in the Boulder County ballot issue passed in November, 1995, and in Boulder County Resolution No. 94-162 which